❕Crypto Transactions to Face Third-Party IRS Reporting in 2025

For the first time, crypto transactions conducted on centralized platforms like Coinbase and Gemini will be reported to the IRS through the new 1099-DA form, starting with the 2025 tax year. This reporting includes details of purchases and sales but excludes cost basis information until 2026.

For decentralized platform users, third-party reporting will not take effect until 2027. Bitcoin ETF holders will also receive tax forms reflecting both sales and taxable fund activities. These changes aim to improve tax compliance and remind crypto investors of their tax obligations.

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🔶 Binance Updates Crypto Transfer Procedures for Poland and Belgium

Starting January 20, 2025, Binance introduces new requirements for crypto deposits and withdrawals in compliance with EU regulations.

Key Changes:

🔥 Deposits over €1,000: Sender’s full name, country, and exchange name (if applicable) are required.

🔥 All withdrawals: Beneficiary’s full name, country, and exchange name (if applicable) must be provided.

🔥 Missing information: Transactions may be delayed or canceled without the required details.

These changes affect only crypto transfers. No action is needed for users not performing deposits or withdrawals.

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📰 Nasdaq Files for Canary Litecoin ETF Approval

Nasdaq has filed a 19b-4 form for the approval of the Canary Litecoin ETF, initiating the review process with the SEC. This filing starts a formal timeline for the regulator to evaluate the proposal, potentially paving the way for the introduction of a Litecoin-based exchange-traded fund.

The approval of such ETFs could mark another significant step for crypto adoption, though it remains subject to the SEC’s scrutiny and regulatory requirements. The market now awaits the SEC’s decision.

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🔝 Solana and XRP Surge Amid Reports of Strategic Crypto Reserve

Solana (SOL) and XRP saw significant price jumps following reports that former President Donald Trump may be considering an America First Strategic Crypto Reserve. This initiative would purportedly aim to bolster the U.S. position in the digital asset market.

However, experts have cast doubt on the feasibility of such a reserve, citing regulatory challenges and unclear implementation strategies. While market sentiment remains positive, analysts urge caution as the reports have yet to be officially substantiated.

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💰 Coinbase Introduces Bitcoin-Backed Loans with $45 Billion Market Target by 2030

Coinbase has launched Bitcoin-backed loans in partnership with Morpho, allowing users to borrow up to $100,000 in USDC against their Bitcoin holdings. Borrowers must maintain a 133% collateral ratio, with liquidation triggered if the loan balance reaches 86% of the collateral's market value.

The Bitcoin-backed loan market is expected to grow from $8.5 billion in 2024 to $45 billion by 2030, fueled by increasing crypto adoption. Coinbase’s seamless integration of lending services on its Base blockchain highlights its commitment to on-chain financial solutions, offering users flexible access to liquidity without selling their assets.

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🔥 Solana Meme Coins Rally on Trump Pardon Speculation

As Donald Trump's inauguration approaches, Solana-based meme coins tied to potential presidential pardons are gaining attention. Tokens like Rosscoin (ROSS) and Free Ross Ulbricht (FREEROSS) have surged significantly, with Rosscoin hitting a $35 million market cap amid speculation Trump will pardon Silk Road founder Ross Ulbricht.

Other meme coins, including Pardon Snowden (SNOWDEN), are also seeing activity. Crypto degens on platforms like Polymarket are betting on pardons, with Ross Ulbricht ranking high among likely candidates. The speculation reflects both market interest and the ongoing intersection of crypto and politics.

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🔝BREAKING: Donald Trump's memecoin, $TRUMP, officially hits $15 billion in market cap.

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🔥 Phantom Secures $150M Series C Funding to Drive Crypto Wallet Innovation

Phantom, a leading crypto wallet platform, has raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, valuing the company at $3 billion. The investment will support Phantom’s goal of accelerating crypto adoption and further enhancing its platform.

With over 15 million monthly active users and dominance in the Solana ecosystem, Phantom plans to use the funds for strategic partnerships, acquisitions, and developing features like peer-to-peer payments and social discovery, solidifying its position as a major player in consumer finance.

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⚡️ Orbiter Finance Announces OBT Tokenomics and Airdrop Details

Orbiter Finance, a decentralized cross-rollup Layer 2 bridge, has unveiled its native token $OBT, aiming to drive further decentralization. The token allocation includes 40% for the community, 20% for ecosystem growth, and the remainder split among the foundation, team, and investors.

To qualify for the airdrop, users must have engaged with the protocol for at least two months since December 2021 and accumulated 40 OPoints through transactions. The airdrop, beginning January 20, 2025, will distribute 22% of the total $OBT supply, with additional rewards spread over six months.

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We’re so back

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⭕️ OKX Launches Animecoin (ANIME) Mining on Jumpstart

OKX has introduced Animecoin (ANIME) on its Jumpstart platform, with mining starting on January 20, 2025. Participants can stake OKB or BTC to earn a share of 80 million ANIME tokens, split between staking pools (53.33M for OKB and 26.67M for BTC).

The mining period runs until January 23, 2025, with a staking cap of 600 OKB or 0.3 BTC per user. Tokens earned during the event will be tradable once the mining period ends. There are no minimum staking requirements, and users can stake or unstake anytime.

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🔷 Vitalik Buterin Announces Leadership Changes at Ethereum Foundation

Vitalik Buterin has announced significant leadership changes at the Ethereum Foundation to address community concerns about communication and technical expertise. The restructuring aims to better align the foundation with the evolving crypto industry while maintaining Ethereum's core principles of neutrality and decentralization.

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🔥 Trump Memecoin Launch Boosts Moonshot App to Top 10 on Apple App Store

The launch of the $TRUMP memecoin has propelled Moonshot, a crypto trading app, into the top 10 rankings on the US Apple App Store. The surge reflects growing public interest in the memecoin and related trading activities, driving significant app downloads and engagement.

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🪙 Solana Reaches New All-Time High Amid Memecoin Boom

Solana's market capitalization has climbed past $81 billion, fueled by a surge in memecoin activity, including tokens linked to Trump. Decentralized exchange volumes on the network have also set new records, surpassing $100 billion in monthly trading.

This growing activity underscores Solana's capacity to manage large transaction volumes with efficiency, reinforcing its status as a go-to platform for token launches and high-volume trading.

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💰 Sui RWA TGE Scheduled for January 20

Sui RWA’s Token Generation Event is set for January 20, with trading for SUIRWA launching the same day. Token sales are available on Ape Terminal, SuiPad, ChainGPT Pad, and Eesee, with an airdrop for SUIDEPIN stakers before January 26.

IDO Price: 0.018
Initial Market Cap: 478,800
Launch FDV: 1,800,000

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TRUMP Token Climbs to 15th Largest Amid Tax Cut Speculation

The TRUMP token has surged to become the 15th largest cryptocurrency by market cap, fueled by rumors of upcoming tax cuts. Despite this growth, the token recently experienced a 31% price decline, highlighting its volatility.

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🪙 XRP Nears Record High on ETF Optimism and Legal Momentum

XRP has surged close to its all-time high of $3.40, driven by growing optimism around the potential approval of XRP-focused ETFs and Ripple's favorable developments in its ongoing legal battle with the SEC. Market enthusiasm has intensified as investors anticipate regulatory clarity and broader adoption of XRP, bolstering confidence in the asset's long-term prospects.

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🌱 Merit Systems Secures $10M Funding for Blockchain Infrastructure

Merit Systems has raised $10 million in a funding round co-led by a16z crypto and Blockchain Capital. The startup focuses on enhancing scalability and security for decentralized applications through its blockchain infrastructure platform.

The investment underscores growing interest in blockchain infrastructure solutions, positioning Merit Systems to advance innovation and support the expanding Web3 ecosystem.

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